Published: 2025-05-29T01:59:11.000Z
Chart GBP/USD Update: Room for deeper pullback
Technical Analyst
1
Under pressure as prices extend pullback from Monday's 1.3593 high to reach support at 1.3435/1.3400
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3435 | ** | Sep 2024 year high | |
| R3 | 1.3645 | * | Feb 2022 high | S2 | 1.3400 | * | congestion | |
| R2 | 1.3593 | ** | 26 May YTD high | S3 | 1.3360 | * | 14 May high | |
| R1 | 1.3500 | * | congestion | S4 | 1.3250 | * | congestion |
Asterisk denotes strength of levelr
01:50 GMT - Under pressure as prices extend pullback from Monday's 1.3593 high to reach support at the 1.3435/1.3400 area. Prices are unwinding overbought intraday and daily studies and see risk for break here to open up room for deeper pullback to retrace gains from the 1.3140 low. Lower will see room to support at 1.3360 then the 1.3300/1.3250 congestion. Meanwhile, resistance is lowered to the 1.3500 level. Regaining this will return focus to the upside for retest of 1.3593 high and see room for extend the underlying bull trend from September 2022 low.